Giftify cancels equity line of credit

Giftify (GIFT) announced the cancellation of its equity line of credit. On December 16, 2024, the Company entered into a common stock purchase agreement with an institutional investor. Pursuant to the SPA, the Company had the right, but not the obligation, to sell to the Investor, up to $10,000,000 of newly issued shares of the Company’s common stock, subject to certain limitations and conditions. The Company has exercised its right to terminate the SPA effective February 4, 2025 by mutual agreement of the parties.